Written answer by Ministry of National Development on annual breakdown of HDB flats purchased by age and flat type from 2010

Nov 29, 2022

Mr Leong Mun Wai: To ask the Minister for National Development how many HDB flats purchased in each year from 2010 was a (i) resale flat by any owner below age 95 upon lease expiry (ii) resale flat by any owner below age 85 upon lease expiry (iii) resale flat with more than 60 years lease by any owner below age 35 (iv) resale flat with less than 60 years lease by any owner below age 35 and (v) BTO flat by any owner below age 35.

Answer:

The amount of CPF monies that flat buyers can use for their flat purchase, the HDB housing loan quantum, and the Enhanced CPF Housing Grant (EHG) quantum, are dependent on the remaining lease of the flat and the age of the youngest flat buyer. If the remaining lease of the flat can cover the youngest buyer until at least the age of 95, the flat buyers can obtain the maximum CPF usage, HDB housing loan quantum, and EHG quantum that they are eligible for. Flat buyers who do not meet this criterion will still be able to use their CPF monies, take an HDB housing loan, and receive the EHG, but the amounts would be pro-rated.

2        In each year between 2011 and 2021, the proportion of resale flat transactions where the youngest owner would be below age 95 upon lease expiry was between 5.8% and 8.9%. The proportion of resale flat transactions where the youngest owner would be below age 85 upon lease expiry was between 0.5% and 1.2%.

3        Over the same period, between 40% and 62% of households with buyers below the age of 35 bought BTO flats. Among the remaining households who bought resale flats, between 94% and 97% were for resale flats with more than 60 years of lease remaining.

Issued by:    Ministry of National Development

Date         :   29 Nov 2022